Sep 28, 2020 10:10 AM ET

iCrowd Newswire – Sep 28, 2020

Global Revenue Cycle Management Market was valued at USD 50.14 billion in 2019 which is expected to reach USD 85.25 billion by 2027 at a CAGR 12.5%.

Revenue cycle management is an improvised financial process which is used by healthcare professionals to track patient’s records, revenue generation, reimbursements, and mange claims process. This system provides real time access to claim management and allow healthcare professionals to manage their work in proper manner from registration and scheduling appointments to final balance payment.

Increase in government initiatives and investments as well as loss of revenue due to billing errors are the key driving factors which are expected to boost the global revenue cycle management market growth. Furthermore, technological advancements and innovations will have the positive impact on market growth. For instance, in February 2018, eClinicalworks had launched new Acute Care HER and revenue cycle management cloud based platform for ambulatory care centers. Moreover, in June 2019, Homecare Homebase had launched new its new revenue cycle management tool. Also, process improvements in healthcare sectors will fuel the global revenue cycle management market growth.

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However, high cost and lack of skilled professionals are the restraining factors which are expected to hamper the global revenue cycle management market growth. Also, data privacy and security concerns will affect the market growth.

Market Key Players

Various key players are discussed in this report such as Epic Systems, Conifer Health Solutions,  Eclinicalworks, Ge Healthcare, Athenahealth, Allscripts Healthcare Solutions, Quest Diagnostics, Mckesson, and  Cerner.

Market Taxonomy

By Type

  • Integrated
  • Standalone

By Deployment

  • On-Premise
  • Cloud Based

By Component

  • Software
  • Services

By End User

  • Hospitals
  • Physicians
  • Diagnostic Centers
  • Ambulatory Care Centers

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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